Thursday, 20 September 2012

Stock Market on Thursday

Organized by opposition parties 'Bharat Bandh' effects on the stock market are beginning to show. Domestic markets has been accompanied by a sharp decline beginning on Thursday. Sensex down 200 points and Nifty is down 60 points. Asian markets decline has put pressure on the Indian markets, the weakness of the rupee has come under pressure from the market. FMCG stocks led the decline from shopping in the market have not been widespread.

The BSE 30-share Sensex index fell  134 points, ie 0.7 per cent is trading at 18,362. The NSE 50-share Nifty key index dropped 0.9 per cent, with 49 points, ie is trading at 5550 levels.

Share tips
2-day international markets fall after U.S. markets ended with modest gains on Wednesday. Due to good home sales figures managed to American Markets. In August, sales of existing homes in the U.S. has reached a height of approximately 2.5 years. U.S. markets were 0.1-0.15 per cent. The Asian markets are seeing weakness of 0.5-1 per cent.

29 cents weaker rupee against the dollar
Weakness of the rupee against the dollar on Thursday with 29 cents to open at 54.30. Rupee closed at 54.01 against the dollar on Tuesday. Rupee against the dollar in early trade today is broken down to the level of 54.40. Experts believe that the rise in the euro against the U.S. dollar due to strong rupee could come under pressure.

International stock markets at the end of month dollar demand uncertainty and weakness in the rupee are expected. Is believed that today's businesses rupee against the dollar may remain in the range of 53.90 to 54.35.

Stock Recommendations and Nifty Tips:

1. Tata Consultancy Services Ltd is a ‘BUY’ call with a target of Rs 1340 and a stop loss of Rs 1285.

2. ITC Ltd is a ‘BUY’ call with a target of Rs 265 and a stop loss of Rs 252.

3. Oriental Bank of Commerce is a ‘SELL’ call with a target of Rs 275 and a stop loss of Rs 293

4. Dena Bank Ltd is a ‘SELL’ call with a target of Rs 96 and a stop loss of Rs 105.

No comments:

Post a Comment

Note: only a member of this blog may post a comment.